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2018 March Lubbock Area Housing Report

 Positive Closed Sales, Median Price Increase, Active Listings Increase

April 14, 2018 – The market saw an increase in prices, active listings and closed sales according to our March 2018 Lubbock Area Housing Report.  Lubbock area home sales posted a slight increase of almost 1.6% compared to March 2017 with 373 homes sold.  The median price for Lubbock area homes was $159,900, a 10% increase from March 2017.

The number of active listings on the market showed another large increase of 20% with 943 active residential homes on the market.  Lubbock's monthly housing inventory also increased from 2.4 months in March 2017 to 2.9 months in March 2018.  There is a benefit to more homes being for sale as it creates more balance for buyers.  Currently though, Lubbock remains a strong sellers' market in most price ranges.  The Real Estate Center at Texas A&M University states that 6.5 months represents a market in which supply and demand for homes is balanced.*

Homes spent 5 days less on the market in March 2018 vs March 2017, with a total of 81 days from when a listing goes on the market to when it closes. 

March 2018 Statistics At-A-Glance

  • 373 – Homes sold in March 2018, 1.6% more than March 2017.
  • $159.900 – Median home sales price in March 2018, an increase of 10.3% compared to March 2017.
  • 943 – Active homes on the market in March 2018, 20% more than March 2017.
  • 2.9 – Monthly housing inventory, up from 2.4 months in March 2017.
  • 81 – Number of days homes spent on the market until the time is closes, 5 days less than March 2017.
  • pdf 2018 March Infographic (372 KB)  

Contact a Lubbock REALTOR® for the most accurate information about the local market and what's happening in your neighborhood.

*Months invetory is defined as the number of active listings divided by the average sales per month of the prior 12 months.

About the Lubbock Association of REALTORS®

The Lubbock Association of REALTORS® and our 1,200+ members are committed to serving the Lubbock area by promoting REALTOR® integrity while advocating for private property rights and home ownership.



Buyers should be prepared to act quickly and expect to make full-price offers with little to no concessions, depending on the price range and specific location. 
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